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House #10

Lancaster, OH

Neighborhood Type: B-

House #10

Lancaster, OH

Neighborhood Type: B-

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This was my tenth investment property.  This property was my Second property in Ohio.  I bought in OH to find Multi-Family properties because I did not like the neighborhoods where the Multi-Family properties were in Memphis.  This is a Triplex. 1 SFH(Single Family Home) 3br/1ba & 1 Duplex with 2 – 1ba/1ba units. This property needed exterior & interior painting, new light fixtures, and cleaning. I later found out that there are some moisture issues in one of the duplex units that need addressing immediately.   It was harder to get rented and In this property We have some Section 8 tenants.  I took this property on to expand into MFH’s. I feel that Lancaster is going to appreciate in the future. 

HOME:

5 Bed/4 Bath 2980 Square Feet

PURCHASED:

$220,000

REHAB:

$20,000

CURRENT VALUE:

$221,000

HOME:

5 Bed/4 Bath 2980 Square Feet

PURCHASED:

$220,000

REHAB:

$20,000

CURRENT VALUE:

$221,000

MONTHLY CASH FLOW:

$335

MONTHLY CASH FLOW:

$335

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